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FWIW - US Federal Debt (65.5T) exceeds world GDP
Old 02-15-2009, 11:50 AM   #1
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FWIW - US Federal Debt (65.5T) exceeds world GDP

Here's an uplifting article

Federal obligations exceed world GDP
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Old 02-18-2009, 09:15 AM   #2
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Quote:
Originally Posted by shotgunner View Post
Here's an uplifting article

Federal obligations exceed world GDP
He's a real cheery guy, huh? This kind of articles are skewed to give a doomsday scenario.

Let's face it, the federal government has NEVER followed GAAP......

Exxon doesn't have to provide social programs to the general populace............
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Old 02-18-2009, 09:27 AM   #3
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Using either method the National Debt has DOUBLED in the last approximate 10 years. Personally I would not want a mortgage to do that. I wonder how many people in the USA has done EXACTLY that with their personal DEBT LOAD - Guess we will know when all of the BAIL-OUTS are finished.
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Old 02-18-2009, 09:55 AM   #4
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Remember that the $65 trillion is a present value over a 75 year time horizon. The PV of the GDP over the same period is about $768 trillion. So the deficit is 8.5% of GDP.

That is a big number and we should be looking to eliminate it, but comparing to a snapshot of world GDP isn't very relevant. OAG is correct in saying that the real concern is the trend line - things are getting worse instead of better.

Much of the shortfall is in Medicare, and much of the projected Medicare problem comes from the assumption that medical costs will grow faster than the GDP. The biggest single thing we can do to reduce the $65 trillion is to find a way to reduce US medical costs. This ought to be possible, we spend more than other rich countries and we don't seem to live a lot longer or a lot healthier.
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We don't seem to live a lot longer or a lot healthier.
Old 03-07-2009, 02:47 AM   #5
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We don't seem to live a lot longer or a lot healthier.

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This ought to be possible, we spend more than other rich countries and we don't seem to live a lot longer or a lot healthier.
Considering how much we eat, drink, and smoke and how little exercise we get Americans should be proud that we live as long as we do!

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Old 03-11-2009, 09:10 AM   #6
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Considering how much we eat, drink, and smoke and how little exercise we get Americans should be proud that we live as long as we do!


You got that right!
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